On June 5, 2001 the Contra Costa County Board of Supervisors (Board) authorized the establishment of Community Facilities District No. 2001-1 (Norris Canyon). The creation of the Community Facilities District (CFD No. 2001-1) authorized the levy of a Mello-Roos Special Tax on the Norris Canyon Estates subdivision in the San Ramon area. The action of the Board also authorized the issuance of bonded indebtedness secured by the approved Special Tax in the amount of $7,220,000. The (CFD No. 2001-1) bonds were issued on June 14, 2001.
On December 11, 2012, the Board authorized the refinancing of the 2001 Special Tax Bonds in order to lower the annual debt service on the bonds. The 2013 Special Tax Refunding Bonds were issued on January 24, 2013.
On August 14, 2007 the Board authorized the establishment of Community Facilities District No. 2007-1 (Stormwater Management Facilities) (CFD No. 2007-1). On the same date, a Mello-Roos special tax was authorized on property within CFD No. 2007-1 to fund stormwater management facilities services.
The California Government Code Sections 50075.3 and 53411 require that specified information be provided to the Board of Supervisors on an annual basis. The report requirements include information on Mello-Roos CFD Special Taxes collected and CFD Bonds issued. The attached CFD Administration and Special Tax and Bond Accountability Reports fulfill the requirement of the Government Code. The reporting requirements are summarized below:
Section 50075.3
Item (a): Identify amount of special taxes that have been collected and expended.
Response to Item (a):
CFD No. 2001-1: The fiscal year 2020-21 special tax levy was $419,144. Since the CFD is on the County Teeter Plan, the full amount of the tax levy was remitted to the CFD. The total levy was used to pay debt services in March and September 2021 on the CFD bonds as well as administrative costs for the CFD.
CFD No. 2007-1: The fiscal year 2020-21 special tax levy was $51,973. Since the CFD is on the County Teeter Plan, the full amount of the tax levy was remitted to the CFD. The total levy was used to fund the authorized services and pay administrative expenses of the CFD.
Item (b): Identify the status of any project required or authorized to be funded by the special taxes.
Response to Item (b):
CFD No. 2001-1: All CFD No. 2001-1 improvements have been completed and accepted by the Public Works Department of the County.
CFD No. 2007-1: CFD No. 2007-1 continues to provide the authorized services for the benefit of properties within CFD No. 2007-1.
Section 53411
Item (a): Identify the amount of bonds that have been collected and expended.
Response to Item (a):
CFD No. 2001-1: A total of $7,220,000 in special tax bonds was issued by the County on June 14, 2001. Upon issuance of the bonds, $6,000,000 from bond proceeds was deposited into the Improvement Fund and has been used to acquire the CFD No. 2001-1 improvements from the developer. An additional $170,000 was used to pay the costs of issuing the bonds. Approximately $417,000 was deposited in the Reserve Fund, and the remaining $487,000 was deposited in the Bond Fund to be used for capitalized interest.
The Series 2001 Bonds were refunded and defeased on January 24, 2013 by the issuance of $5,605,000 in special tax refunding bonds. An Original Issue Premium of $20,460, together with available moneys from the Series 2001 Bonds in the amount of $767,049, left a total of $6,392,508 in bond proceeds to be expended. Upon issuance of the bonds, $5,947,529 from bond proceeds was deposited into the Refunding Fund, to be used to redeem all of the outstanding Series 2001 Bonds. An additional $207,063 was deposited into the Reserve Fund. The remaining $237,917 was used to pay the costs of issuing the Series 2013 Special Tax Refunding Bonds.
CFD No. 2007-1: Not applicable
Item (b): Identify the status of any project required or authorized to be funded from bond proceeds:
Response to Item (b):
CFD No. 2001-1: All CFD No. 2001-1 improvements have been completed and accepted by the Public Works Department of the County.
CFD No. 2007-1: Not applicable
Not part of the Government Code required report, but provided as a matter of information is the following information on the incidence of delinquencies within the CFDs.
CFD No. 2001-1: As of August 25, 2021 the total amount collected by the County for the fiscal year 2020-21 CFD special tax levy was $417,933. The delinquency percentage in the District is 0.29%, which is below the threshold for which the County is obligated to take affirmative action to remedy.
CFD No. 2007-1: As of August 25, 2021 the total amount collected by the County for the fiscal year 2020-21 CFD special tax levy was $51,636. The delinquency percentage in the District is 0.65%. Since no bonds can be issued in this CFD, there is no obligation for the County to take immediate action on any delinquencies.
Out of compliance with Sections 50075.3 and 53411 of the California Government Code.